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PARKD Ltd (“PARKD” or the “Company”) (ASX: PKD) is pleased to announce it is has entered an exclusivity agreement with Fielders Steel Roofing (Fielders) (a division of BlueScope Steel Limited (ASX: BSL)) (Exclusivity Agreement) in respect of the proposed licencing of PARKD’s Metal Deck Support System IP.
Highlights
- Exclusivity Agreement provides for a 120-day exclusivity period to finalise due diligence and a binding licencing agreement
- Exclusivity Agreement contains non-binding commercial licencing terms
- PARKD and Fielders have identified several opportunities to combine their individual Intellectual Property to develop a structural system that will greatly simplify construction methodology.
- The System will achieve improved structural performance, construction efficiency & productivity suitable for multi-level car parks, residential and commercial buildings.
As announced on 25 November 2022, PARKD and Fielders partnered to assess the potential to integrate Fielders’ high performing metal deck slab system, Slimdek, with PARKD’s Metal Deck Support System and its Patented CVBTM to create a superior low carbon solution for construction of Car Park and Commercial Developments. The Exclusivity Agreement follows joint R&D outcomes as outlined in the previous announcement of 2 May 2023.
Fielders has a 120 day exclusivity period (for nominal consideration) to complete technical and legal due diligence and for the parties to finalise binding terms of a Licensing Agreement.
The Exclusivity Agreement was agreed following an initial engineering technical assessment period where the companies undertook:
- Research and Development demonstrating the veracity of the IP performance through testing conducted by Curtin University’s School of Civil and Mechanical Engineering Structural Testing Laboratory (Refer Images 1 to 3);
- Manufacturing Supply Chain Assessment to determine unit costs and productivity scaling; and
- Engineering design review and compliance with the Australian National Construction Code.
Other than the 120 day exclusivity period (which is legally binding), the Exclusivity Agreement contemplates non-binding terms and conditions for PARKD to license its IP to Fielders for distribution, sale, market and manufacture under commercial Licensing Terms and Conditions to be agreed. The Exclusivity Agreement contemplates that the binding agreement will include the following considerations:
- License Rights
- Royalty
- Supply Cost
- Regional Territory
- Competition
- Performance
Image 3. Live Load performance testing
The MoU signed by the two companies (refer to the Company’s announcement dated 25 November 2022) was entered into after identifying the exciting potential for their respective IP technologies to offer the Australian construction market a system of building that could be “flat packed” and installed on projects without the need for specialised labour or subcontractors.
The Company considers that the signing of the Exclusivity Agreement represents a significant step forward towards a formal licencing agreement for national manufacturing and sale of IP owned by PARKD. The non-binding initial terms set-out percentage-based royalty payments that have the potential to scale the nature of PARKD’s current business and income streams.
There are no conditions precedent to the Exclusivity Agreement, however, investors should note that there is no guarantee that a formal binding agreement will be reached between the parties.
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This article includes content from PARKD, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Streamplay Studio Enters into Agreement to Acquire North American Indie Gaming Leader, Noodlecake Studios
HIGHLIGHTS
- Streamplay expands global reach and direct-to-consumer gaming presence across North America with acquisition of Noodlecake.
- Established in 2011, Noodlecake boasts a proven track record with a variety of over 60 in-house and published games achieving over 270 million downloads.
- Noodlecake has over its history generated over ~A$42 million through primary monetisation channels, with additional revenue from other sources.
- Noodlecake averaged annual revenue of ~A$7.3 million and EBITDA of ~A$1.8 million over the 3 years ending 31 December 2023.
- Noodlecake’s lean, high-impact operating model, maximises publishing reach with a focused team and global collaborations.
- Established partnerships with leading Tier 1 brands such as Apple, Google, Xbox, PlayStation, Nintendo, Steam and more.
- Provides Streamplay with immediate product and geographic revenue diversification via Noodlecake’s flexible publishing and monetisation strategies (premium sales, in-app purchases, advertising, and subscription-based models).
- Strengthens global expansion opportunities, including continued collaborations with Zplay in the Chinese gaming market.
About Noodlecake
Founded in Canada in 2011, Noodlecake is an established, reputable and profitable indie game studio and publisher. With a diverse portfolio of over 60 games listed across more than 10 storefronts and available in over 45 countries, Noodlecake has engaged players worldwide with award-winning content, achieving over 270 million downloads to date.
Since incorporation, the studio has generated significant revenue through its multifaceted monetisation strategy, including over A$15 million in in-app purchases, over A$9 million in direct game sales, and over A$18 million in advertising revenue, alongside other significant sources.
These revenues are strategically driven by the studio’s presence on major digital storefronts such as the Apple App Store, Google Play, Steam, and Nintendo Switch. Noodlecake’s adaptability to emerging opportunities is evident in its recent expansions into Xbox and PlayStation, with future releases targeting premium storefronts and subscription platforms.
Noodlecake boasts an impressive track record of publishing award-winning titles that have captivated both players and critics alike. Among its successes, “Yes, Your Grace” recently won Best Indie Game on Google Play for 2024,1 showcasing their ability to support compelling and engaging indie experiences. “Golf Blitz”, an innovative multiplayer spin on the classic golf genre which was developed inhouse, earned critical acclaim and was featured as an Editor’s Choice by Apple in 2019.2 Additionally, “Alto’s Odyssey”, another title published by Noodlecake, received an Apple Design Award in 20183 for its exceptional artistry and gameplay.
Their games employ a range of revenue models tailored to each platform. Premium titles generate revenue through direct purchases, while free-to-play games monetise via in-app purchases and targeted ads.
Additionally, Noodlecake has a history of securing exclusive, curated partnerships with Apple Arcade, Google Play Pass, and Xbox Game Pass which provide consistent revenue through subscription-based engagement.
The studio’s upcoming game, “Winter Burrow”,4 set for release on Xbox Game Pass, Xbox storefront, Switch and Steam, early in 2025, is just one example of how Noodlecake leverages these partnerships to generate stable, upfront revenues.
Click here for the full ASX Release
This article includes content from Streamplay Studio, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Next-generation Hadrian X® Completes US Site Acceptance Testing
Highlights
- FBR receives confirmation from CRH Ventures that first next-generation Hadrian X® successfully completes Site Acceptance Testing at Fort Myers facility in Florida
- Confirmation received from an independent structural engineer that the structure is consistent with design requirements and meets applicable building standards
- FBR to receive next tranche of non-refundable payment from CRH Ventures of US$600,000 under Demonstration Program agreement
- Construction of the first house in the Demonstration Program to commence shortly
An independent structural engineer provided confirmation that the walls of the test build were consistent with the design and met applicable building standards.
Completion of Site Acceptance Testing triggered a US$600,000 payment by CRH Ventures to FBR and the commencement of the Demonstration Program. The Demonstration Program requires FBR to construct the external walls of five to ten single-storey houses utilising the next-generation Hadrian X®. The Demonstration Program will commence shortly.
The Demonstration Program will be deemed complete when FBR completes construction of its five houses plus up to five houses added to the program by CRH Ventures, with all houses to be certified by an independent structural engineer. Upon completion of the Demonstration Program, FBR will receive a payment of US$400,000 from CRH Ventures under the Demonstration Program agreement. The completion of the Demonstration Program also marks the commencement of a 45-day period for CRH Ventures to exercise the option to form a joint venture for the delivery of Wall as a Service® in the United States.
This announcement has been authorised for release to the ASX by the FBR Board of Directors.
Click here for the full ASX Release
This article includes content from FBR Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.